Words: Ashley Rigg
Published: 1st September 2011
*Timeshare purchases to double by 2014?
Phil Watson, managing director of World Timeshare Hypermarket (WTH) makes an interesting prediction in an interview with OPP.
He predicts that the number of timeshare owners in the UK will rise from around 500,000 today to over a million by 2014.
The reason? A shortage of affordable second homes at the top-end of the market and an increase in buyer confidence as a result of new regulations.
This year WTH “have experienced a 25% surge in interest, primarily from families looking for luxury accommodation with sea views”, according to Watson.
Comment
It's difficult to know whether WTC's experience is representative of the sector and also whether "interest" equates to an increase in sales.
There is always a market for luxury water-front property and timeshare reduces the cost. However, "safety" and wealth protection are arguably the key motivations for property purchase this market and it remains to be seen whether timeshare can shed it's chequered image.
Source: Global edge
User Comments
The biggest problem with Timeshare is one of saleability and future capital value. It's true that as markets recover the price of prime beachfront property will rise sharply as it has in the past; however, Fractional Ownership is better placed to fill this gap. Alternatively buy in Egypt whilst you still can, where beachfront property starts at 1500$ per m2. This will not last long; watch prices rise steeply once the election produces a new democratic government!
Peter Mitry,
Egypt Real